That also assumes, of course, that the combined studio colossus will keep making that many shows, and that Warner Bros. Television, Paramount TV Studios, CBS Studios and their various subunits will keep going as currently constituted. In short, that’s unlikely.

Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery, after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio.

Lawmakers and press freedom advocates worry the deal poses antitrust risks, threatens media competition and raises concerns about journalistic independence under the Trump administration.